IGA Worldwide Raises Additional Series B Funds from Translink Capital, Presidio STX and ITOCHU Corporation
Investments from Leading Asian Financial Conglomerates to Support IGA's Global Growth Strategy
Thursday 24th January/...IGA Worldwide Inc., the leading global independent in-game advertising network, today announced it has closed an additional amount of Series B funding from international investors Translink Capital, Presidio STX, LLC, a subsidiary of Sumitomo Corporation and ITOCHU Corporation. This secondary investment increases the total value of funds raised in this round to nearly $30 million.
Today's announcement further establishes IGA's leadership position in videogame advertising, a sector poised to grow into the billions globally by 2012; the fastest-growing major advertising medium. In addition, investments from two of Asia's leading financial conglomerates are testament to the demand for IGA's value proposition in Japan, Korea and China, some of the world's most advanced gaming and media markets.
"We are very pleased to have Translink Capital, Presidio STX and ITOCHU Corporation among our investors," said Justin Townsend, Chief Executive Officer, IGA Worldwide. "This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint to the most technologically-savvy populations of gaming enthusiasts in the world."
"We are pleased to participate in this round," added Toshi Otani, Co-Founder and Managing Director, Translink Capital. "Our mission is to make meaningful investments in technology companies with high-growth potential. We are confident the value proposition IGA poses to the global gaming and media markets will drive the necessary revenue to support the company's expansion internationally."
In 2007 IGA announced it had closed on an initial $25 million in Series B funding in a round led by GE/NBC Universal's Peacock Equity and KTB Ventures. JMP Securities acted as exclusive financial advisor to the Board and Management of IGA in both the initial Series B and this most recent transaction.
About IGA Worldwide
IGA Worldwide, Inc. ( www.igaworldwide.com) is the largest dynamic in-game advertising company with a proprietary ad serving network. The IGA Worldwide Radial NetworkSM enables advertisers to target millions of engaged gamers across a wide range of platforms and genres. IGA Worldwide has already delivered campaigns for diverse brands such as; 20th Century Fox, Ben Sherman, Discovery, FHM, Hawaiian Airlines, Intel, Jeep, MTV, and T-Mobile. IGA Worldwide also provides strategic consulting services including integrated product placement and promotion through its dedicated creative solutions department. Headquartered in New York with offices in London and Berlin, the group is backed by Peacock Equity (a joint venture between GE-Commercial Finance and NBC Universal), Easton Capital Group, Intel Capital, Morgenthaler Ventures, KTB Ventures, DN Capital, Translink Capital, Presidio STX, LLC. and ITOCHU Corporation.